The leu rises to 3.63 against the euro, helped by high interbank interests

Romania’s leu appreciated to 3.63 against the euro, within a market which saw high interbank interests of 9.5 percent per year for overnight deposits, caused by the banks’ need for lei, dealers say.

The leu grew from 3.6320 – 3.6370 to 3.6270 – 3.6320 against the euro, in the first part of the exchange rate session.

The appreciation of the leu relied on the high interbank interests, which see such values because everybody needs liquidities at the end of the month to pay taxes, explained the head of Volksbank Romania’s treasury unit, Ciprian Mihai.

The bank official noted, on an international level, the market expects new announcements concerning financial losses for the U.S. based companies. Such a move could trigger the investors’ prudence towards risks, Mihai said.

The U.S. dollar fluctuated between 1.5661 and 1.5815 against the euro. At 11:00 a.m., the euro was rated at 1.5772 U.S. dollars.

NewsIn